Trump’s latest US corporate Twitter target: General Motors
DETROIT (AP) — In another tweet targeting a U.S. company, President-elect Donald Trump is threatening to slap a tax on General Motors for importing compact cars to the U.S. from Mexico.
But GM makes the vast majority of compact Chevrolet Cruzes in Lordstown, Ohio, near Cleveland.
Trump tweeted early Tuesday that GM is sending Mexican-made Cruzes to the U.S. tax-free. He told GM to stop or pay a big border tax.
GM saw the tweet and responded:
General Motors manufacturers the Chevrolet Cruze sedan in Lordstown, Ohio. All Chevrolet Cruze sedans sold in the U.S. are built in GM’s assembly plant in Lordstown, Ohio. GM builds the Chevrolet Cruze hatchback for global markets in Mexico, with a small number sold in the U.S.
Shares of GM fell 0.4 percent to $34.70 in premarket trading after the tweet.
Last year Trump threatened to tax Ford, which plans to shift production of the compact Focus to Mexico. Jobs at the U.S. factory that makes Focuses would be preserved because the plant would get a new pickup and SUV.